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This analysis uses ABS Statistical Areas Level 2 (SA2) boundaries, which can materially differ from Suburbs and Localities (SAL) even when sharing similar names.
SA2 boundaries are defined by the Australian Bureau of Statistics and are designed to represent communities for statistical reporting (e.g., census and ERP).
Suburbs and Localities (SAL) represent commonly-used suburb/locality names (postal-style areas) and may use different geographic boundaries. For comprehensive analysis, consider reviewing both boundary types if available.
est. as @ -- *
ABS ERP | -- people | --
2021 Census | -- people
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Banks has an estimated 5,043 residents, down from 5,100 at the 2021 Census — a change of 57 people, or 1.1%. That puts 2,241 residents on each square kilometre. Population is estimated from ABS Estimated Resident Population releases and GNAF address data, re-based from the 2021 Census and updated annually.
Detail
Demographic analysis indicates that the population of Banks stands at approximately 5,043 as of May 2026. This represents a reduction of 57 residents (1.1%) from the 5,100 individuals recorded during the 2021 Census. This population shift is calculated utilizing the ABS estimated resident population of 5,038 from June 2025 alongside 3 validated new addresses registered after the Census. The current population translates to a density of 2,241 persons per square kilometer, exceeding the typical density observed across nationwide locations evaluated by AreaSearch. In contrast to the 1.1% contraction seen in Banks post-census, the surrounding SA3 region grew by 1.4%, highlighting contrasting demographic directions.
The population expansion that did occur locally was largely driven by natural increase, which accounted for roughly 74.4% of total population additions in recent times. Projections from ABS and Geoscience Australia released in 2024 (using 2022 as the base year) are utilized for each SA2 area. For any SA2 areas missing this information, or for projections extending past 2032, growth rates by age bracket from the ACT Government's SA2 projections (2022 base year) are applied. Based on these expected demographic transformations, the total population is projected to contract over this timeframe, decreasing by 253 persons by 2041. Conversely, growth is anticipated within specific age brackets, particularly the 75 to 84 cohort, which is expected to expand by 59 people.
Frequently Asked Questions - Population
Detail
Approval figures show approximately 1 new dwelling approved annually in Banks, resulting in a total of 6 homes over the last 5 financial years. Thus far in FY-26, 1 approval has been logged. With an average of 3.5 new residents per constructed dwelling arriving annually over the 5 financial years spanning FY-21 to FY-25, the residential supply is lagging demand considerably. This gap typically intensifies buyer competition and exerts upward pressure on prices, with new homes constructed at an average value of $284,000. Construction activity in Banks is considerably subdued relative to the Australian Capital Territory, tracking at 90.0% below the regional per capita average.
This constrained pipeline of new dwellings generally underpins demand and supports values for existing housing. This volume is also below the national average, indicating a mature market and pointing to possible planning restrictions. Additionally, recent building approvals consist entirely of standalone houses, preserving the classic suburban feel of the area and catering to families looking for space. Interestingly, developers are focusing more on traditional houses than the historical mix would suggest (79.0% at Census), showing ongoing demand for detached homes. The area has approximately 5023 people per dwelling approval, which points to an established residential market. Given that the population is projected to remain stable or contract, Banks is likely to experience less pressure on its housing stock, which may offer favorable opportunities for home buyers.
Frequently Asked Questions - Development
Development applications around Banks
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| Lodged | Address | Description | Type | Distance | Status |
|---|
SOURCE: Planning portals and council registers, compiled by AreaSearch. Distance & bearing measured from the suburb midpoint.
AreaSearch tracks one current infrastructure or development project inside Banks, worth an estimated $120 million. A further 16 sit in the immediately surrounding suburbs, taking the tracked pipeline within reach of the area to $2.4 billion. 1 are already under construction and 4 are due for completion within three years. The pipeline spans residential development, health & medical and transport & logistics. Records are compiled from Infrastructure Australia, state agencies, council planning portals and public announcements, reviewed and updated daily, then ranked by proximity, construction stage, completion horizon and project scale.
Detail
Local infrastructure projects, major works, and planning updates are significant drivers of regional performance. AreaSearch has identified 0 major projects that are expected to influence the local area. Key regional undertakings include Southquay Greenway Stage 2 - Block 1 Section 80 Public Housing, Lanyon Marketplace Improvements, Monaro Highway Safety Upgrades, and the Big Canberra Battery (Williamsdale BESS), with specific details provided for those most relevant to the locality.
Professional plan users can use the search below to filter and access additional projects.
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Denotes AI-based impression for illustrative purposes only, not to be taken as definitive under any circumstances. Please follow links and conduct other investigations from the project's source for actual imagery. Developers and project owners wishing us to use original imagery please Contact Us and we will do so.
Frequently Asked Questions - Infrastructure
Banks Gateway Estate
New residential subdivision by the Suburban Land Agency delivering approximately 220 new homes in Banks, directly adjacent to northern Gordon and within the same primary school catchment. The project is focused on creating a thriving local community.
Tuggeranong Multi-Unit Development - Gordon
Multiple 24-unit developments and supportive housing projects including six single storey supportive housing dwellings with carports, and childcare centre construction for 90 places.
Lanyon Marketplace Improvements
Public space improvements completed in late 2023 at Lanyon Marketplace in Conder. The project, led by the ACT Government, included new seating and landscaping, improved pedestrian access (paths, pram ramps, safe crossings), a new raised intersection at Balcombe and Sidney Nolan Streets, and additional parking spaces on Sidney Nolan Street. The original record's mention of new Coles/Aldi/specialty stores appears to refer to an expected private sector expansion/refurbishment or is based on speculation, as the public works completed focused on the community space and access, with the Marketplace being anchored by Woolworths and 18 specialty shops.There is an ALDI store located at 9 Sidney Nolan Street nearby.
Calwell Retirement Living Precinct
A retirement living precinct proposal by KBDC, featuring 30 one-storey townhouses alongside the Calwell shopping strip.
Calwell Group Centre improvements
Public space upgrades at local shops including new seating, playground with nature play elements, accessible parking bays, improved pedestrian access, upgraded lighting, and enhanced landscaping. Features nest swing, trampolines, slide, steppers and new shade sail.
Calwell Public Housing Development
30 new public housing townhouses (2 and 3 bedroom) built to Class C Adaptable standards. Features evaporative heating/cooling, 6-star energy rating hot water systems, double-glazed windows, and sustainable design.
EV Fast Charging Infrastructure - Calwell (Calwell Shopping Centre)
Public DC fast EV charging delivered at Calwell Shopping Centre and operated by Evie Networks, supported by ACT Government grants and ARENA funding to expand Canberra's charging network.
Tuggeranong Public Housing Development
Major public housing development in Tuggeranong providing affordable housing options for low-income families and individuals. Includes multiple apartment complexes and townhouses with community facilities and support services.
3,020 residents of Banks are employed, from a labour force of 3,166. Unemployment sits at 4.6%, with participation at 78.7%. Weighted for its industry mix, the area's sectors are forecast to grow about 6.1% nationally over five years. That reflects industry composition only and makes no allowance for local population growth. The working-day population is estimated at 3,545, about 70% of the resident population, so more people leave the area for work than travel in. Unemployment and labour force come from ABS Small Area Labour Markets, updated quarterly; the industry and occupation profile is from the 2021 Census.
Detail
Banks possesses a skilled labor force with strong representation in essential service industries, an unemployment rate of 4.6%, and stable employment conditions over the preceding year. As of March 2026, 3,020 local residents are employed. The unemployment rate sits 0.6% above the 4.1% rate recorded for the Australian Capital Territory, while workforce participation is exceptionally high at 78.7% compared to the regional average of 70.8%. Census data indicates that a modest 8.0% of workers operated from home, though this figure may reflect the influence of COVID-19 lockdowns. The primary employment fields for local residents are public administration & safety, health care & social assistance, and construction.
The construction sector shows a particularly high concentration locally, employing workers at a rate 1.5 times the regional average. Conversely, the professional & technical services sector employs only 6.4% of the local workforce, compared to 11.1% across the Australian Capital Territory. Comparing the number of working residents to the local jobs recorded in the Census indicates that this predominantly residential district provides limited employment opportunities within its borders. According to AreaSearch's evaluation of SALM and ABS statistics, during the 12-month period ending March 2026, the number of employed residents grew by 0.4% while the overall labor force expanded by 1.1%, leading to a 0.6 percentage point increase in the unemployment rate. Over the same period, the Australian Capital Territory saw employment rise by 0.3% and the labor force grow by 1.1%, resulting in a 0.7 percentage point increase in unemployment. National employment projections released by Jobs and Skills Australia in May-25 offer additional context regarding prospective labor demand in Banks. These five- and ten-year forecasts have been applied to the local workforce profile to model future growth. Nationally, employment is projected to grow by 6.6% over five years and 13.7% over ten years, though individual industries will grow at different rates. Applying these sector-specific forecasts to the employment structure of Banks indicates that local employment would rise by 6.1% over five years and 12.6% over ten years, representing a simple weighted extrapolation that does not account for local population projections.
Frequently Asked Questions - Employment
Median household income in Banks is $2,419 a week (about $126,000 a year), with median personal income at $1,168 a week. ATO records put median taxable income at $72,291 a year against an average of $78,802. Household income is from the 2021 Census; taxable income is from ATO Taxation Statistics for the latest financial year available, indexed forward using the ABS Wage Price Index.
Detail
AreaSearch's compilation of the latest postcode-level ATO statistics for the 2023 financial year indicates that the median taxpayer income in the Banks SA2 was $72,291, while the average income was $78,802. These figures are higher than the national averages and compare to regional figures of $72,206 (median) and $85,981 (average) across the Australian Capital Territory. Factoring in Wage Price Index growth of 10.44% since the 2023 financial year, current income levels are estimated to be approximately $79,838 for the median and $87,029 for the average as of March 2026. Data from the 2021 Census reveals that household, family, and individual incomes in Banks are positioned between the 88th and 89th percentiles nationwide.
The weekly income bracket of $1,500 - 2,999 is the most common, accounting for 37.0% of residents (1,865 people), which is consistent with the wider region where this segment represents 34.3%. A significant portion of residents are high earners, with 37.0% earning more than $3,000 per week, reflecting robust financial capacity. Housing costs consume 14.6% of income, and strong earnings place residents in the 88th percentile for disposable income, while the SEIFA index ranks the area in the 6th decile for income.
Frequently Asked Questions - Income
Banks had 1,772 occupied dwellings at the 2021 Census, 79% detached houses and 4% apartments. 60% are owned with a mortgage, 18% rented and 22% owned outright. At that Census the median rent was $424 a week and the median mortgage repayment $2,000 a month, a total housing cost higher than 83% of areas nationally. Rent absorbs 17.5% of household income here and mortgage repayments 19.1%. Dwelling stock, tenure and housing costs are 2021 Census measures — the only source that counts dwellings at this boundary size.
Detail
According to the latest Census, the housing mix in Banks consisted of 79.1% separate houses and 21.0% other dwelling types (such as semi-detached properties, apartments, and alternative housing), compared to 63.3% houses and 36.7% other dwellings across the Australian Capital Territory. Home ownership in Banks lagged the territory average at 21.9%, with the remaining properties occupied by mortgage holders (60.0%) or tenants (18.1%). The median monthly mortgage payment of $2,000 was below the Australian Capital Territory average of $2,080, while the median weekly rent was $424, compared to the regional figure of $450.
On a national level, mortgage repayments in Banks are higher than the Australian average of $1,863, and rents are considerably above the national median of $375.
Frequently Asked Questions - Housing
Banks counted 1,772 households at the 2021 Census, averaging 2.8 people each. 41% are couples with children, more than in 81% of areas nationally, against 23% couples without children. 20% of households are people living alone, and families average 1.6 children. Household and family composition is measured only by the Census, so these are 2021 figures.
Detail
Families make up the vast majority of households at 78.8%, consisting of couples with children at 41.0%, couples without children at 23.4%, and single-parent households at 14.1%. Non-family households account for the remaining 21.2%, with single-person households representing 19.8% and group households making up 1.4% of the total. The median household occupancy is 2.8 persons, which is larger than the Australian Capital Territory average of 2.5.
Frequently Asked Questions - Households
22.9% of adults in Banks hold a university qualification, including 15.3% with a bachelor degree and 4.5% with postgraduate qualifications. A further 26.5% hold a vocational qualification. Qualifications come from the 2021 Census.
Detail
The local area presents educational differences compared to the wider region, with university attainment rates at 22.9%, which is substantially below the SA4 regional average of 46.8%. Among university degrees, bachelor qualifications are the most common at 15.3%, followed by postgraduate degrees at 4.5% and graduate diplomas at 3.1%. Vocational and technical training is highly represented, with 38.8% of residents aged 15 and over holding vocational qualifications, split between advanced diplomas at 12.3% and certificates at 26.5%. Participation in education is high, with 30.5% of the local population currently undertaking formal studies.
This enrollment consists of 10.8% of residents in primary schooling, 8.8% in secondary education, and 3.6% in higher education programs.
Frequently Asked Questions - Education
Schools Detail
Public transport in Banks reaches 26 stops on 56 routes, timetabled for about 3,600 services a week. The typical home sits about 150 m from its nearest stop. Buses carry the largest share of public transport commuters. Households keep an average of 1.8 vehicles. Stop and service counts are built from operators' published GTFS timetables and refresh with each timetable release; vehicle ownership is from the 2021 Census.
Detail
Public transport infrastructure in Banks features 26 active transit stops, consisting of bus services. These stops support 56 separate routes that deliver 3,635 weekly passenger trips. Access to public transit is rated as excellent, with residents living an average of 152 meters from their nearest stop. Given the residential nature of the suburb, most workers commute out of the area, and private vehicles remain the primary mode of travel for 93% of commuters. Average vehicle ownership stands at 1.8 cars per household, which is above the regional average. A minor share of 8.0% of residents worked from home, according to the 2021 Census, which may have been influenced by COVID-19 conditions.
Transit service frequency averages 519 daily trips across all routes, which corresponds to approximately 139 weekly trips for each individual stop.
Frequently Asked Questions - Transport
Transport Stops Detail
68.7% of residents in Banks report no long-term health condition. 4.5% need daily assistance with core activities, and 58.4% hold private health cover. The standardised death rate runs at 5.9 per 1,000 residents. Health conditions, assistance needs and insurance are 2021 Census measures; the death rate comes from current ABS releases.
Detail
Assessment of mortality rates and the prevalence of chronic illnesses indicates that Banks faces notable health challenges, with medical conditions present among both younger and older residents. The rate of private health insurance is very high, covering approximately 58% of the population (~2,945 people), compared to 62.4% across the Australian Capital Territory. The most prevalent health conditions recorded locally are mental health conditions and asthma, affecting 10.3% and 8.7% of residents, respectively. Meanwhile, 68.7% of the population reported having no chronic medical conditions, compared to 70.2% across the Australian Capital Territory.
Residents of working age exhibit higher-than-average rates of chronic illness. Seniors aged 65 and older make up 11.5% of the population (577 people), which is below the territory average of 14.3%. Health trends among older residents present some difficulties, with national performance comparisons aligning generally with the broader population.
Frequently Asked Questions - Health
Banks is largely Australian-born, at 81.4% of residents, with 15.3% speaking a language other than English at home. The largest reported ancestries are Australian (28.0%) and English (26.1%). Ancestry, language and country of birth are counted only by the Census, so these are 2021 figures.
Detail
Banks exhibits above-average cultural diversity, with 18.6% of the population born outside of Australia and 15.3% using a non-English language at home. Christianity is the primary religious affiliation, representing 45.9% of local residents. The most pronounced religious overrepresentation is seen in Judaism, which accounts for 0.2% of the local population, matching the 0.2% average across the Australian Capital Territory. Regarding parental country of birth, the three most common ancestries in Banks are Australian at 28.0% of the population (considerably higher than the regional average of 23.0%), English at 26.1%, and Other at 9.6%.
There are also distinct variations in other backgrounds: Spanish ancestry is overrepresented at 1.1% of the population (compared to 0.5% regionally), Polish at 1.1% (compared to 0.8%), and Croatian at 1.1% (compared to 0.9%).
Frequently Asked Questions - Diversity
The median resident of Banks is 35, younger than 79% of areas nationally. 26.5% of residents are aged 15 to 34. Age cohorts are not raw Census counts: the Census split is re-based to the latest ABS population estimates and state projections.
Detail
Banks has a median age of 35, matching the Australian Capital Territory average of 35 and sitting slightly below the Australian median of 38 years. Compared to the territory as a whole, Banks has a higher proportion of residents in the 45 - 54 age bracket (14.5%) but a smaller share of 25 - 34 year-olds (14.2%). Since the 2021 Census, the 65 to 74 demographic has increased from 5.3% to 6.8% of the population, whereas the 15 to 24 group has decreased from 13.7% to 12.3%, and the 5 to 14 cohort has fallen from 15.0% to 13.9%.
Population projections for 2041 indicate notable demographic shifts, with the 75 to 84 age group projected to grow fastest at 29%, adding 51 residents to reach a total of 226. The aging of the demographic profile is highlighted by the fact that residents aged 65 and over account for 100% of the projected population growth. Conversely, contractions are expected in the 55 to 64 and 45 to 54 cohorts.
Frequently Asked Questions - Age
Data & MethodBoundaries, Sources & Method for Banks
9 of 14 data sections on this page were updated within the last 12 months — the newest current to Aug 2026.
Everything is aggregated to the SA2 boundary shown above, on a 2021 Census baseline. Only 3 sections — housing, households and cultural diversity — still wait on the 2026 Census.
The ledger — source, cycle and currency by section
| Section | Source & update cycle | Currency |
|---|---|---|
| Updated within the last 12 months 9 sections | ||
| Population | ABS, GNAF, Geoscience Australia Annual (ABS ERP) | May 2026 3 months ago headline measures · 2021 Census baseline |
| Re-based to the ABS Estimated Resident Population (June 2025 release) and updated with new dwellings from GNAF address data. Current to May 2026, with the 2021 Census supplying the small-area baseline. | ||
| Age profile | ABS, Geoscience Australia, State governments Annual | May 2026 3 months ago headline measures · 2021 Census baseline |
| Age cohorts are re-based to the latest ABS population estimates and state projections, current to May 2026. Each cohort is held as a Census baseline and a current estimate. | ||
| Development & approvals | ABS, GNAF Monthly (ABS approvals) | Jun 2026 2 months ago headline measures · May 2026 baseline |
| Property sales & rents | Valuer General, Rental Board, ABS Weekly sales, quarterly rents | Aug 2026 this month all 21 measures |
| Sales from the state Valuer General register, refreshed weekly, and rents from quarterly rental bond lodgements. Both are read live each time this page loads, current to Aug 2026. | ||
| Infrastructure projects | Infrastructure Australia, State agencies, Local governments Daily | Aug 2026 this month all 1 projects tracked here |
| Project pipeline maintained continuously from Infrastructure Australia, state agencies, local government and public announcements. Records are added and revised daily; this area was last updated Aug 2026. | ||
| Employment | ABS, DEWR, JSA Quarterly (ABS SALM) | Mar 2026 5 months ago headline measures · 2021 Census baseline |
| Unemployment and labour force from ABS Small Area Labour Markets, current to Mar 2026. The growth outlook applies Department of Employment (now Jobs and Skills Australia) forecasts for all 19 industry divisions to the local industry mix, so it measures sector composition rather than local expansion and makes no allowance for population growth. Job demand comes from the same agency via its Internet Vacancy Index; industry and occupation structure from the 2021 Census. | ||
| Education | ABS, ACARA Annual (ACARA) | Aug 2026 this month headline measures · 2021 Census baseline |
| Transport | ABS, State Transport Departments Each timetable release | Jul 2026 last month headline measures · 2021 Census baseline |
| Services & amenities | Provider directories, ACECQA Continuous | Jul 2026 last month all 14 measures |
| Annual and financial-year sources 2 sections | ||
| Income | ABS, ATO Annual (ATO) | FY 2023 3 years ago headline measures · 2021 Census baseline |
| ATO taxable income statistics for FY 2023, indexed forward using the Wage Price Index. Census household income provides the distribution detail. | ||
| Health | ABS, ATO Annual | 2024 2 years ago headline measures · 2021 Census baseline |
| Census-measured — next update: 2026 Census 3 sections No more current small-area source exists for these, so they are labelled as Census-measured rather than implied to be current. | ||
| Housing | ABS 5-yearly (Census) | 2021 Census next update 2026 all 30 measures |
| Households | ABS 5-yearly (Census) | 2021 Census next update 2026 all 18 measures |
| Cultural diversity | ABS, Geoscience Australia 5-yearly (Census) | 2021 Census next update 2026 all 44 measures |
"Currency" is the most recent release feeding that section. Where the Census supplies the structural baseline underneath a current headline figure, the row says so.
How the numbers are built
Population
The Census provides the small-area baseline, aggregated from mesh blocks to this boundary. It is then re-based to the ABS Estimated Resident Population (June 2025 release), and new dwellings built since Census night are counted from address data — 3 validated new addresses here. The headline figure is therefore a current estimate for May 2026, not a 2021 count (5,100 at the 2021 Census → 5,043 now). Annual growth rates are compound (CAGR), not simple averages.
Age profile
Cohort shares are not raw Census counts. Every cohort is held as a pair — the Census baseline and a current estimate — and the split is re-based using ERP and state population projections, current to May 2026. Median age is the Census median plus modelled change since. Charts that show both are labelled "2021 Census vs Current Estimate".
Property sales
Sourced from the state valuation authority's sales register — current, not Census, and refreshed weekly. Medians are calculated from settled transactions in the period shown; periods with very low transaction counts are flagged or suppressed, because a handful of sales can move a median substantially.
Rents
Derived from state rental bond lodgement data, by dwelling type and bedroom count. Bonds are lodged at the start of a new tenancy, so this reflects new lettings, not the whole rented stock.
Development & infrastructure
Building approvals come from current ABS releases; development applications are collected from council and state planning portals; the infrastructure pipeline is compiled from Infrastructure Australia and local government sources. Applications are matched to this boundary by address or coordinates, so very recent lodgements may not yet appear.
Employment & income
Industry and occupation structure comes from the Census, but the headline labour-market indicators do not. Unemployment and labour force are derived from ABS Small Area Labour Markets (quarterly). The employment outlook applies Department of Employment forecasts for all 19 industry divisions to this area's own industry mix (the agency is now Jobs and Skills Australia), as does the Internet Vacancy Index used for job demand. Because it is weighted on industry composition alone, that outlook carries no allowance for local population growth — in fast-growing areas the real rise in local jobs will typically be higher. Income combines Census household income with ATO taxable-income statistics for FY 2023, indexed forward using the Wage Price Index.
Education, transport & amenities
School enrolments, ICSEA and performance come from ACARA's current release, not the Census. Public transport stops and service frequency are derived from GTFS timetable feeds published by state transport departments. Services and amenities are proximity and count scores built from provider directories, refreshed on their own cycle. The Census contributes only the travel-to-work and qualification measures.
Rankings and benchmarks. Where we rank this area, the comparison set is every area of the same boundary type — suburbs against suburbs, SA2s against SA2s. Benchmarks compare this area against its greater capital city region and the national figure for the same measure and period.
Limits worth knowing. Small areas carry larger error margins, and the ABS introduces small random adjustments to Census counts to protect confidentiality — so totals may not sum exactly. Estimates re-based from regional data describe the area's expected trajectory, not a direct count of it. Figures are indicative for research and are not financial, planning or valuation advice.
Cross-check us. The Census baseline for this boundary is at ABS 2021 Census QuickStats (801071071). QuickStats reports 2021 only — the figures on this page are more current wherever the ledger shows a later date.